President and VP to Cut Salary By 50%

President Muhammadu Buhari and Vice President Yemi Osinbajo, will receive only 50% of the salary paid to their predecessors. According to a statement by a spokesman to the President, Garba Shehu, the President’s decision to take a 50% pay cut was conveyed to the Office of the Secretary to the Government of the Federation on Thursday, 9th July, by the Permanent Secretary of the State House, Mr Nebolisa Emodi.

The current annual remuneration of the President of Nigeria is 14,058,820.00 Naira (about $70,000), which will now be cut in half.

The President had during his campaign promised to cut down cost of governance in the face of dwindling crude oil price.